Onboarding training webinar 10 Financials

Overview

Implementing financials is centered around three things:

• The extent to which you are going to use Readysell financials. Are you going to use Readysell financials, if so how much? There is a spectrum of choice between only using Readysell financials and using minimal Readysell financials, perhaps running most of your financials through a external program
• Getting your balances from the old system into Readysell
• Running your selected Readysell financials on a day to day basis

Procedure

Deciding to use Readysell financials

It is important you understand what your plan is for financials before you start financials implementation. While Readysell recommends you use our financials. You are free, and some sites do, to use a external financials program. Perhaps just using Readysell for sales, debtors and stock.

If you don't use Readysell financials. You will need to run a report out of Readysell's GL periodically. So that you have the figures to type into your external program. So you sill still need to ensure your Readysell financials are setup properly, so the reports you produce can be relied upon as source data for your external system.

Getting balances form your old system into Readysell

Extracting balances from your old system is only part of the task. You also need to learn enough about Readysell financials to be able to enter those initial balances back into Readysell 
See: Initial setup of financials including brought forward balances

Transitioning debtors and creditors to Readysell Lite

Your debtors and creditors balances in Readysell Lite start at zero. Your general ledger balances start at the balance that was in place in your old system. Over a few months, those two balances move towards each other. Until your general ledger and debtors/creditors balances move to the point when they balance. This happens when all your debtors/creditors in your old system have been paid or credited out. When the debtors/creditors balance in your old system becomes zero. See: Transitioning debtors and creditors to Readysell Lite

Running Readysell Financials as part of your day to day business

Running financials from a external financials package

Procedure for running financials from a separate software package..

Running financials from Readysell

The financials training guide covers the basics of running financials in your business. See: Financials Training Guide

The user guide covers using financials in more detail. See Financials